IOTA Price Prediction: Long-term (MIOTA) Value Forecast – July 7
- The long-term outlook is in consolidation.
- Patience must be exercised for a breakout or breakdown before taking a position.
IOTA/USD Long-term Trend -Ranging
Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600
IOTA long-term outlook remains in a range-bound market. The opening of last week market at $0.4204 had the bears in control until 2nd July when momentum was lost. The cryptocurrency dropped to $0.3502 at the lower price range closing with as a bearish spinning top. A sign of reversal within the range.
The reversal was not strong enough as the bulls lacked the momentum to push price beyond $0.4418 with the bears taken over control of the market.
The new week opened with price at $0.3886 below the two EMA and the stochastic oscillator signal at 23% is undefined a reflection of the ranging scenario in the long-term.
$0.5000 is the upper supply area of the range while $0.3500 is the lower demand area of the range. Traders should be patient and wait for price breakout or breakdown with a retest before taking a position.
Live Iota (MIOTA) Price:
1 MIOTA/USD =$1.0808 change ~ -10.97%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.